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2 accused of fraudulent film tax credit scheme

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Posted: Feb 8, 2014 1:11 PM by JANET McCONNAUGHEY
Source: Associated Press

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NEW ORLEANS - U.S. Attorney Kenneth Allen Polite Jr. says a Los Angeles film executive and a New Orleans attorney are accused of defrauding Louisiana out of $1.1 million in movie tax credits.

Friday's indictment charges Seven Arts Entertainment Inc. CEO Peter Hoffman and Michael Arata with conspiracy and wire fraud.

It alleges that they got the credits by falsely claiming they had spent $2 million renovating a decrepit mansion as a post-production facility and $1 million on film equipment.

Attorney Billy Gibbens says Arata has done nothing wrong. Jason R. Williams, representing Hoffman, did not immediately respond to an email Friday night.

Seven Arts is based in London as well as Los Angeles. The Seven Arts website lists "Drunkboat," with John Malkovich and John Goodman, as one of its new releases.

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